feedback
The FxPro Analyst Team

Forex: USD Suffers on Subpoena News

The Trump Administration is back in the spotlight with news of a report that Special counsel Robert Mueller’s investigators have issued a subpoena to more than 12 officials in the Trump administration election campaign for documents related to Russia. According to the Wall Street Journal; Mueller’s team issued the subpoena in mid-October, requesting documents and emails from more than a dozen campaign officials that include several keywords related to Russia. The subpoena does not compel ...

The FxPro Analyst Team

Forex: Positive US Data Negated by Tax Plan Opposition

The US Labor Department released data on Wednesday showing the consumer price index edged up by 0.1% in October after climbing by 0.5% in September. The modest increase in consumer prices was in line with market expectations. CPI excluding food and energy prices climbed by 0.2% in October after inching up by 0.1% in the previous month – as expected by the markets. The US Commerce Department released data showing that US retail sales rose by 0.2% in October after spiking by an upwardly revised ...

The FxPro Analyst Team

Forex: Data Boosts EUR Can CPI Boost USD?

EUR received a boost on Tuesday, as data from Destatis showed German Preliminary GDP climbed to 0.8% in Q3, beating forecasts of 0.6%. In addition, Q1 growth was adjusted higher to 0.9% from the previous 0.7%. The recent increase in exports and business investment appears to be the main driver behind the improvement, as consumer and government spending were stable through the quarter. Germany’s economy is now growing at an annualized rate of 2.8% the best growth the country has seen for 6 ...

The FxPro Analyst Team

Forex: Chinese Data Disappoints

China’s economy has been robust throughout 2017 as a continued recovery in manufacturing and industrial sectors, a healthy property market and surprisingly strong exports have helped push growth in the first three quarters close to 6.9%. However, data on Tuesday from the Chinese National Bureau of Statistics showing fixed-asset investment growth declined to 7.3%, through January to October, below forecasts of a 7.4% growth. Further disappointing data showed year-on-year industrial output ...

The FxPro Analyst Team

Forex: SegWit2x HardFork suspended, Bitcoin surges to $7999 before crashing by more than $1,000

As of November 9, Bitcoin is trading above $7,100. Once theSegWit2x fork was suspended, the price of Bitcoin surged to $7,999 on cryptocurrency exchange Bitfinex, before losing more than $1,000 in a matter of minutes. It is worth noting that the recent rally was supported by altcoin sell-off as traders exchanged them with Bitcoin, hoping for “free coins” after the hardfork. Meanwhile, markets seemed to have too high hopes about getting something for free as developers wanted to implement only ...

The FxPro Analyst Team

Forex: Kiwi Gets a Boost

Earlier today the Reserve Bank of New Zealand (RBNZ) left their Official Cash Rate (OCR) unchanged at a record low of 1.75% - as the markets had forecast. More importantly was the RBNZ revising inflation forecasts upwards, which is likely to signal an increase in interest rates earlier than previously predicted. RBNZ acting Governor Spencer stated after the announcement “Monetary policy will remain accommodative for a considerable period,” & “the exchange rate has eased since the August ...

The FxPro Analyst Team

Forex: Data & Polls Pressure Sterling

Sterling suffered downward pressure on Tuesday as the latest monthly report from the British Retail Consortium showed non-food sales slumping in October to the lowest levels in 5 years. Total sales crept up 0.2% from a year earlier, like-for-like sales slipped 1%, a reversal from the 1.9% rise in September. British consumers continue to experience a squeeze on their incomes as wage growth is behind inflation, driven by the continued weakness in GBP following the Brexit vote in 2016. More ...

The FxPro Analyst Team

Forex: Eurozone to Close the Year on a Strong Note

Data released on Monday indicates that the Eurozone economy is on target to close out 2017 strongly. The latest Markit composite PMI fell to 56.0 in October, slightly lower than the previous months reading of 56.7, but well above the key 50 zone indicating positive sentiment for growth. PMI data showed the 2 largest economies, Germany and France, have remained strong. Not all PMI data was positive, as Italian growth slowed and Spain saw its mainstay services sector falling to its lowest level ...

The FxPro Analyst Team

Forex: Trump: “JOBS, JOBS, JOBS!”

Data released on Friday showed US job growth accelerated in October after hurricane-related disruptions in the prior month, but a sharp retreat in average earnings and an increase in the number of people leaving the workforce caused concern on the robustness of the labor market. Nonfarm payrolls increased by 261K in October as 106K leisure and hospitality workers returned to work. This was the largest gain since July 2016 but below forecasts of an increase of 310K. The data for September was ...